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Begin New Search Publishing Institution The New School Graduate Program in International Affairs Author Barry Herman

1. A Pragmatic Ideal for Global Economic Governance Reform

Author:
Barry Herman
Publication Date:
07-2011
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
This paper asks how the world of sovereign countries should arrange itself to address global and international economic, financial, social or environmental problems. The current system of institutions and arrangements, informally led by the Group of 20, as convoked by the United States, is hardly ideal. The paper proposes a “pragmatic” alternative with multiple checks and balances, but able to reach timely and effective decisions on the full range of international policy issues. The paper concludes noting that dissatisfaction with current arrangements has reopened intergovernmental debate; it is not the same as undertaking reform, but it is a start.
Topic:
Economics, Globalization, International Organization, and International Trade and Finance
Political Geography:
United States

2. Why the Code of Conduct for Resolving Sovereign Debt Crises Falls Short

Author:
Barry Herman
Publication Date:
03-2008
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
The Institute of International Finance, a bankers group, has promoted its “Principles for Stable Capital Flows and Fair Debt Restructuring” as a code of conduct for debtor governments and their private creditors to avoid and if necessary resolve sovereign defaults. Although drafted with Brazil, Korea, Mexico and Turkey, I argue this purely voluntary code is excessively creditor friendly. Instead, a more balanced code should be developed in a broad, open and politically legitimate forum, and be coupled with an international disciplining mechanism that pushes creditors and debtor to a negotiated outcome under the code. A suggested approach concludes the paper.
Topic:
Development, Economics, International Trade and Finance, and Foreign Aid
Political Geography:
Turkey, Brazil, Korea, and Mexico

3. Time for Change in Global Trade and Financial Governance

Author:
Barry Herman
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
The governance structures of the International Monetary Fund, World Bank and World Trade Organization are distinct, although the meetings of the leaders of the Group of 7 industrial countries (G8 including Russia on political matters) provide an opportunity to forge coherence at least with the interests of those countries. Sometimes heads of other countries are invited to meet on the fringes of the summits, but these consultations are hardly negotiating forums. This paper argues why this is no longer tenable, if it ever was, and how to go about building a more representative structure of global trade and financial governance.
Topic:
Globalization, Government, International Organization, and International Trade and Finance
Political Geography:
Russia

4. Justice and Developing Country Debt

Author:
Barry Herman
Publication Date:
02-2007
Content Type:
Working Paper
Institution:
The New School Graduate Program in International Affairs
Abstract:
This paper draws on recent discussions by lawyers, theologians, philosophers and economists to reach some conclusions about the just international treatment of the government over-indebtedness and insolvencies that have occurred and recurred many times in many developing countries. It asks what should be considered “fair” expectations in the relationship of government borrowers and their lenders. It also considers some proposed reforms in the international treatment of sovereign borrowing and debt that are prompted by the ethical analyses.
Topic:
International Relations, Debt, Development, and Post Colonialism

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